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Student Financial Aid

2014-2015 Financial Aid Award Guide

How We Determine Your Eligibility for Aid

Cost of Attendance Budgets

Costs of Attendance Budgets are estimates of the educational expenses incurred by students during a nine-month academic year. These budgets include direct university charges (tuition, fees and on-campus room and board) and estimates of indirect expenses (transportation, books, supplies, miscellaneous living expenses and off-campus room and board).

The 2014-2015 Cost of Attendance (COA) budgets can be located on the Office of Student Financial Aid website.


2014-2015 Undergraduate Budget

UNDERGRADUATE STUDENTS In-State Out-of-State
Tuition & Fees $9,427 $29,720
Books & Supplies $1,130* $1,130*
Subtotal $10,557 $30,850
 
On Campus Charges    
Room On Campus $6,424
Board On Campus $4,209
Personal Expenses & Transportation $3,162*
Subtotal $13,795
Total On Campus $24,352 $44,645
 
Commuter OR With Parents Charges    
Room with Parents $1,110
Board with Parents $2,120
Personal Expenses & Transportation $3,824*
Subtotal $7,054
Total With Parents $17,611 $37,904
 
Off Campus Charges    
Off Campus Room $8,470
Off Campus Board $4,209
Personal Expenses & Transportation $3,824*
Subtotal $16,503
Total Off Campus $27,060 $47,353
* These figures are averages and will vary from student to student. They are indirect costs not billed by the bursar.

2014-2015 Graduate Budget

GRADUATE STUDENTS In-State Out-of-State
Tuition & Fees $13,530 $27,450
Books & Supplies $1,368*
Personal Expenses & Transportation $5,074*
Room & Board Off Campus $10,808
Total Off Campus (not with Parent) $30,780 $44,700
* These figures are averages and will vary from student to student. They are indirect costs not billed by the bursar.

2014-2015 MBA Budget

Note: The following information can be used to understand how eligibility is determined, but the actual dollar amount may not reflect current MBA tuition amounts. For tuition information, students should visit the Office of the Bursar website at bursar.umd.edu or R.H. Smith School of Business at www.rhsmith.umd.edu/ .

MBA STUDENTS In-State Out-of-State
Tuition & Fees $41,420 $49,520
Books & Supplies $1,629*
Personal Expenses & Transportation $5,074
Total $48,123 $56,223
 
Room & Board Off Campus $10,808
Total Off Campus (not with Parent) $58.931 $67,031
* These figures are averages and will vary from student to student. They are indirect costs not billed by the bursar.

2014-2015 Freshmen Connection Budget

The Freshmen Connection Budget figures are for the fall term only.

FRESHMEN CONNECTION STUDENTS In-State Out-of-State
Tuition & Fees - Fall $4,576.50 $10,181.50
Books & Supplies $565* $565*
Subtotal $5,141.50 $10,746.50
 
On Campus Charges    
Room On Campus $3,212
Board On Campus $2,103
Personal Expenses & Transportation $1,581*
Subtotal $6,896
Total On Campus $12,037.50 $17,642.50
 
Commuter OR With Parents Charges    
Room with Parents $555
Board with Parents $1,060
Personal Expenses & Transportation $1,912*
Subtotal $3,527
Total With Parents $8,668.50 $14,273.50
 
Off Campus Charges    
Off Campus Room $4,243
Off Campus Board $2,103
Personal Expenses & Transportation $1,912*
Subtotal $8,258
Total Off Campus $13,399.50 $19,004.50
* These figures are averages and will vary from student to student. They are indirect costs not billed by the bursar.

2014-2015 Winter Term Budget *subject to change

UNDERGRADUATE STUDENTS In-State Out-of-State
Tuition & Fees $1,042 $3,578
Books and Supplies $141 $141
Total $1,183 $3,719
* These figures are averages and will vary from student to student. They are indirect costs not billed by the bursar.

GRADUATE STUDENTS In-State Out-of-State
Tuition & Fees $1,896 $3,984
Books and Supplies $171 $171
Total $2,067 $4,155
* These figures are averages and will vary from student to student. They are indirect costs not billed by the bursar.

2014-2015 Summer Term Budget *subject to change

UNDERGRADUATE STUDENTS In-State Out-of-State
Tuition & Fees $2,432 $7,508
Books $283*
Living Expenses $2,400*
Total $5,115 $10,191
* These figures are averages and will vary from student to student. They are indirect costs not billed by the bursar.

GRADUATE STUDENTS In-State Out-of-State
Tuition & Fees $4,142 $8,318
Books $341*
Living Expenses $2,400*
Total $6,883 $11,059
* These figures are averages and will vary from student to student. They are indirect costs not billed by the bursar.


Expected Family Contribution

The federal processor determined your Expected Family Contribution (EFC) by analyzing the income and asset data reported on your FAFSA. Your EFC represents the amount of money your family should be able to contribute to your educational expenses during the academic year. Your actual contribution will depend on the amount of financial aid you receive.

Financial Need

Your Financial Need is the difference between your Cost of Attendance and your Expected Family Contribution.

Example using 2014-2015 COA budget:

  Cost of Attendance Budget:
$24,352
- Expected Family Contribution:
- 10,872

= Financial Need:
$13,480

We offer need-based aid to students who show financial need. Your total need-based aid, combined with any other aid you may receive, cannot exceed your financial need. Need-based aid includes Federal Work-Study, Perkins Loans, Subsidized Direct Loans, and need-based federal, state and university grants. Outside resources include UM tuition waivers/remission, Resident Assistant benefits, employer tuition benefits, vocational rehabilitation benefits, and private, state and university scholarships.

Students who do not demonstrate financial need may still be eligible to borrow non-need-based student loans and may also receive merit-based grants and scholarships.

FAFSA Corrections

Once the federal processor receives your FAFSA, you are sent a Student Aid Report (SAR) which summarizes your FAFSA data. If you filed your FAFSA online, and ave your Federal Student Aid ID (FSA ID), corrections may be made online. Your eligibility for aid is based on the information reported on your FAFSA and any additional information we collected from you.

If you need to correct your FAFSA data after we have awarded you financial aid, please contact a Financial Aid Counselor at 301-314-9000 or visit the Appeals Section of our website for additional information.

Special Circumstances

Your eligibility for aid is based on the income and asset data you reported on your FAFSA. If your income has decreased or if you have other special financial circumstances that were not taken into account on your FAFSA, you may qualify to have your financial need recalculated. For information on which types of circumstances qualify for recalculation, please complete the Special Circumstances Appeal Form.